Go 55 is a way for some public service employees to access their retirement savings without incurring an IRS penalty after they leave or lose their job. This applies to those who have funds in the 401(k) or 403(b) plan of their most recent employer. It doesn’t apply to individual retirement accounts (IRAs), which require people to wait until age 59 1/2 to withdraw their money without a penalty.
The main drawback to go 55 is that you’re drawing on your retirement savings earlier, which eats away at the overall value of those investments and can deplete your assets faster. Plus, you won’t get Social Security payments until age 62.
GO-ITS 55 adds more clarity and detail around the generic OPS incident management Process Procedures Guide (PPG), specifically around roles, when applied to the Go-ITS standard on managing major incidents. Ministries and I&IT Clusters are expected to review and employ this supplementary specification, and include the relevant steps in their incident support patterns.
In downtown Minneapolis, where many of the original route signs have been erased, eastbound 55 still feeds into the massive parking ramps at 5th Avenue and 8th Street south (shown here), and onto the old Hiawatha Avenue corridor. From here, the highway curves north and east along Hiawatha to a point where it meets modern Interstate 35W and continues on into the south central part of Minnesota and Wisconsin. This highway is also a major east/west connector into Hastings and west central Minnesota, traveling roughly parallel to I-94 south of the Twin Cities. More on that in a later article.
MONAT Global 